Category Archives: Fair Credit Reporting Act

How to sue your creditors as per the Fair Credit Reporting Act

It is not a tough job to sue your creditors if they are not following the laws as per the Fair Credit Reporting Act. The rules were made so that the creditors abide by it. If they are not following the laws, then you can sue them for each violation. You can sue a creditor on following grounds mentioned in this article.

Lawsuits

Lawsuits

Reporting inaccurate information on your credit report – If the creditor is reporting inaccurate negative information on your credit report, you need to dispute those items and the creditors will fix it. If you make a partial payment and they are not reporting it to the credit bureaus, they are violating the laws.

Not reporting a debt that is disputed – If you dispute a debt, and the creditor fails to give you information on that account, then they should report it as disputed to the credit bureaus. If they neglect to do this, you can make them pay for it.

Pulling your credit report without permissible purpose – creditors are not allowed to pull your credit report without permissible reasons. If they are making inquiries on your credit report without your permission, it is a serious violation and you can take actions against them.

FCRA

FCRA

Calling your place of employment – just because you have a debt with a creditor, they cannot violate the laws. If you request a creditor not to call you at your place of work, then they have to abide by it. If they are still calling your place of employment repeatedly, then you can take legal actions for such violations.

Creditors cannot harass or abuse you on the phone – creditors are required to do collections in a fair manner. They cannot harass or abuse you on the phone if you are not able to pay a debt within a certain period of time.

They are many other ways to sue a creditor if they are violating the laws. Its important that you be organized and do proper documentation, take notes of all phone calls. You can sue the creditors for each violation and make enough money to pay off your debts or at least make a dent in it.

Informative link about Fair Credit Reporting Act:

http://www.ftc.gov/os/statutes/031224fcra.pdf